Onconetix, Inc. (NASDAQ:ONCO) Short Interest Down 64.1% in June

Onconetix, Inc. (NASDAQ:ONCO) saw a significant decline in short interest in June. As of June 15th, there was short interest totaling 18,630 shares, a decline of 64.1% from the May 31st total of 51,883 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 372,124 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

ONCO has been the topic of a number of analyst reports. Wall Street Zen cut Onconetix from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings lowered shares of Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Onconetix currently has an average rating of “Sell”.

Insiders Place Their Bets

In other Onconetix news, major shareholder Financial Lp Hrt sold 9,446 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $7.50, for a total transaction of $70,845.00. Following the completion of the sale, the insider owned 8,335 shares of the company’s stock, valued at approximately $62,512.50. The trade was a 53.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders acquired 20,153 shares of company stock worth $152,867 and sold 19,803 shares worth $144,463. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Onconetix

An institutional investor recently bought a new position in Onconetix stock. Citadel Advisors LLC acquired a new stake in Onconetix, Inc. (NASDAQ:ONCO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned approximately 1.00% of Onconetix as of its most recent SEC filing. 23.89% of the stock is owned by institutional investors and hedge funds.

Onconetix Price Performance

Shares of ONCO stock traded up $0.18 on Tuesday, hitting $1.13. 971,890 shares of the stock traded hands, compared to its average volume of 722,597. The firm has a market cap of $1.29 million, a price-to-earnings ratio of 0.10 and a beta of 2.73. Onconetix has a 52 week low of $0.88 and a 52 week high of $270.00. The firm has a 50 day simple moving average of $2.99 and a two-hundred day simple moving average of $36.99.

Onconetix Company Profile

Onconetix, Inc, a biotechnology company, focuses on the research, development, and commercialization of solutions for men's health and oncology. It offers Entadfi, an FDA-approved, once daily pill that combines finasteride and tadalafil for the treatment of benign prostatic hyperplasia; and Proclarix, an in vitro protein-based blood diagnostic test for prostate cancer. The company was formerly known as Blue Water Biotech, Inc and changed its name to Onconetix, Inc in December 2023. Onconetix, Inc was incorporated in 2018 and is headquartered in Cincinnati, Ohio.